Energy Policy and Conservation Act Amendment Act

Energy Policy and Conservation Act Amendment Act - Amends the Energy Policy and Conservation Act to: (1) restate its purpose so as to grant the President authority to fulfill Federal obligations under the international energy program (currently, standby authority, subject to congressional review, to impose rationing and implement energy conservation plans); (2) repeal the Act's purpose to increase fossil fuel supplies through price incentives and production requirements; and (3) permit bidding for development rights on Outer Continental Shelf lands by persons significantly owned by more than one major oil company and affiliates, unless the Secretary of the Interior determines before any lease sale that such bidding would adversely affect competition or the receipt of fair market value. Repeals requirements for oil or gas production at the maximum efficient rate and temporary emergency production rate.

(Sec. 3) Repeals the mandate for: (1) a Strategic Petroleum Reserve (SPR) Plan; (2) an Early Storage Reserve; and (3) a Regional Petroleum Reserve.

Revises the guidelines for the maintenance of the SPR.

Instructs the Secretary of Energy (Secretary) to prepare a policy statement on SPR development, maintenance, and drawdown which will: (1) evaluate the effect of SPR sales upon U.S. ability to fulfill its obligations under the international energy program; (2) evaluate SPR efficacy at reducing the impact of severe energy supply interruptions; and (3) set forth alternative drawdown strategies.

Authorizes the Secretary to use under utilized SPR facilities to store petroleum product owned by a foreign government.

Repeals guidelines for the use of interim storage facilities, and environmental considerations for existing facilities. Mandates submission of an expansion plan to the Congress when the Secretary determines that a 680 million barrel inventory can be reasonably expected in the Reserve within five years.

Makes the Secretary's authority to acquire petroleum products for the SPR contingent on the availability of funds. Repeals guidelines governing storage, transport, or exchange of petroleum products with respect to: (1) prescriptions for fill operations by the President (minimum fill rates); (2) withdrawals from Naval Petroleum Reserve Numbered 1; (3) fill operations suspensions during emergencies; and (4) a test program of refined petroleum products storage.

Instructs the Secretary to sell SPR petroleum at public sale to the highest qualified bidder without regard to Federal, State or local regulations.

Makes SPR status reports annual instead of quarterly.

Authorizes appropriations for the SPR.

Extends the authorities relating to the SPR through FY 2001.

(Sec. 4) Repeals general emergency authorities, including energy emergency preparedness authority. Revises guidelines governing: (1) international voluntary agreements affecting emergency responses (including the applicability of the Defense Production Act of 1950); and (2) antitrust defenses applicable to international voluntary agreements (only if the International Energy Agency's Emergency Sharing System has been activated).

Extends the authorization of appropriations for interagency working groups to promote exports of renewable energy and energy efficiency products and services through FY 2001.

Extends other emergency energy authorities through FY 2001.

(Sec. 5) Extends authorizations of appropriations through FY 2001 for: (1) State energy conservation programs; and (2) the energy conservation program for schools and hospitals.

(Sec. 7) Prescribes guidelines under which the State of Hawaii may: (1) submit binding offers (in addition to competitive bids) for petroleum product purchases during an SPR drawdown which entitle it to a purchase at a specified price, subject to certain limitations the Secretary may impose; and (2) upon request of the Governor, have first preference in scheduling for lifting.

Directs the Secretary, upon the Governor's request, to assist specified insular areas in their efforts to maintain adequate petroleum product supplies from traditional and non-traditional suppliers.